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Saudi Industrial Investment Group stakes $70 million in Unibio

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Producer of high quality, sustainable protein for the global animal feed market
Unibio has announced an investment of approximately $70 million from the Saudi Industrial Investment Group (SIIG).

Unibio was the Wealth Club’s first ever single company Enterprise Investment Scheme (EIS) offer to its clients in 2017.

Unibio has developed technology to convert natural gas (methane) into organic, high quality sustainable protein for the global animal feed market on an industrial scale. [Read more…] about Saudi Industrial Investment Group stakes $70 million in Unibio

GM and LG invest $2.3 billion in second battery manufacturing plant in US

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Ultium Cells, a joint venture of LG Energy Solution and General Motors, is planning to make a “more than $2.3 billion investment” to build its second battery cell manufacturing plant in the United States. The facility will be located in Spring Hill, Tennessee.

Ultium Cells will build the new plant on land leased from GM. The new battery cell plant will create 1,300 new jobs. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. Once operational, the facility will supply battery cells to GM’s Spring Hill assembly plant.

Mary Barra, GM chairman and CEO, says: “The addition of our second all-new Ultium battery cell plant in the US with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future. [Read more…] about GM and LG invest $2.3 billion in second battery manufacturing plant in US

Epiroc orders 77 giant autonomous mining truck systems from ASI

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Autonomous Solutions Inc has signed a subcontract with mining equipment manufacturer Epiroc to supply its autonomous haul truck solution to Roy Hill in Western Australia.

This signing follows the recent award by Roy Hill to Epiroc, a global leader in mining equipment and drill automation, as the prime contractor for the project.

For its part, ASI Mining will supply the technology and systems to convert Roy Hill’s mixed fleet of 77 haul trucks from manned to autonomous operation. The project also includes integration with Fleet and other Mining Management Systems. [Read more…] about Epiroc orders 77 giant autonomous mining truck systems from ASI

GM investing $40 million in Spring Hill plant

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General Motors is to invest $40 million in its Spring Hill Global Propulsion Systems plant to increase capacity of the 5.3L V8 engines for GM’s full-size truck and SUV programs.

The 5.3 V8 engine with Dynamic Fuel Management is paired with a 10-speed automatic transmission.

This engine variant is available for select full-size trucks and SUVs, including Chevrolet’s Silverado, Tahoe and Suburban as well as the GMC Sierra. [Read more…] about GM investing $40 million in Spring Hill plant